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Maurice Spagnoletti, a former president and CEO of Cincinnati-based Fifth Third Bancorp's central Indiana operations, was killed in Puerto Rico on Wednesday by a group of gunmen.

Spagnoletti, 56, led Fifth Third’s Indiana operations from 2001 to 2006. He had been an executive vice president of Puerto-Rico based Doral Bank for about six months, according to the Spanish language news website elnuevodia.com.

Police in Puerto Rico told the website that Spagnoletti was killed by professional hit men as he tried to walk away from his vehicle in downtown San Juan.

Local media reported that Spagnoletti may have collaborated on some sort of federal investigation, the website said.

Spagnoletti’s death was the 515th murder in Puerto Rico so far this year, putting the U.S. territory on pace to set a record, the website said. Fighting for control of drug outlets has led to much of the violence.

With about 500,000 customers in Puerto Rico, Doral Bank is one of the largest banks in the U.S. territory.

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